Reduced property values expected to persist in 2013
from Worship Facilities
In addition to tight underwriting guidelines, declining real estate values are making church deals harder to do all the time. And this trend will continue into the New Year, according to finance experts. "We're not seeing the kind of values that we used to — it used to be that if you put $1 into new construction, you'd get at least $1 in appraised value," says David Dennison, principal of Church Mortgage Solutions in Colorado Springs, Colo. "But now it's more like 90 cents."
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